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20130318
20130326
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an enormous deficit, towns and cities and municipalities. what are the other solutions? and we privatize? could we privatize infrastructure somehow? because i don't know where we will come up with the money to fix it. >> when you think about water, it is the users that should be paying for the use of it. there should be a user fee for it. a lot of municipalities have that. but unfortunately, they have not been keeping pace with inflation to provide the repairs that are needed. melissa: it is interesting that the place where we earned the highest grade was aab. and that have to do with solid waste and the amount that we are recycling and composting in this country. is that the only bright point. >> there were so many bad grades. but we did see six categories actually go up this time from the 2009 report card. in those areas, there were investment. the listeners can see that report card. melissa: thank you so much for coming on. i feel like i should think of a private solution. now it is time for today's report. cyprus is going to avoid a collapse. they settled 1.5%, 93, 71. the biggest ga
the deficit by meaning don't raise revenue are not serious about cutting the deficit. >> neil: even though we've raised revenue, bottom line. >> we should be willing to close tax loopholes if we didn't have a deficit, if we didn't have debt. it's the right thing to do. >> neil: we raised taxes. >> i didn't say raise taxes, i said close loopholes. republicans call closing loopholes raising taxes because it's the rich that have unfair practice. >> neil: have you filled out your brackets? yes or no. have you filled out your brackets? >> no, i haven't done that. i'm going to leave that to the president. he may be late on that too. >> neil: i'm sorry. thank you very much. >> thank you, neil. >> neil: do you remember this? an interview i said senator paul and senator cruz were whacko birds. that's inappropriate and i apologize to them for saying that. >> neil: after that, senator cruz accepted that apology. is senator rand paul about to do the same? and as nevada mourns the death of seven marines, did their senator blame the sequester? meet the military commander telling harry to say i'm sorry. [ m
of the simpson-bowles plan. the plan reduced the deficit through the balance approach that clued additional targets cuts and also revenue from closing a lot of the special interest tax breaks for very wealthy people, tax breaks which mitt romney and paul ryan talked been on the campaign trail. >> neil: they were without raising the overall rate. now we have the rates raised. so republicans talk of a need for a trigger. they might go along with this tax break stuff and all their closing the loopholes, that they did agree it's sort of wasting time and money and the tax code, but you guys have then got to, as part of the trigger, agree simultaneously to these cuts you talked about. what do you make of that? >> well, first of all, the difference is republicans have never said they're willing to close some of those tax loopholes for the purpose of reducing the deficit. which is what the bipartisan -- >> neil: i got a couple on you. i suspect no angel in the ranks of either party. but they did say that they would be open to closing these loopholes but without this being the only negotiating point
account deficits, we're not shipping as much joe seas? >> when people think of the economic situations, they think of the u.s. but what it will do, it will cut into the u.s. deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that might be going away. at the same time, china surplus will suffer from the tracing of independence of china. >> that's strong dollar weak yuan. becky. >> just an observation. >> first, tight oil, i haven't heard of this before. i know where the marcellus shale fields are. where is tight oil? is it in the same sort of locations? >> same. traditionally, coming out of gas yields because of this huge different between gas and oil prices. which
what that means. neil: i think it's a deficit. >> no, it's 17 times our debt. pretty close there. neil: i was talking to charlie rangel earlier on this issue, and he more or less tried to make fun of the notion of imujts themselves, whether they are on time or late, regardless, you know, no one really sticks to them, and actually in truth, he's right about that, but he duds make a mockery of the process, not only when you propose budgets late, and other presidents who have done this before. he's developed into an art form, obviously, but when you don't stick to them in the thing, and you blow them away by spending far more than is allocated in them. what do you think of this in >> well, i think submitting a budget's important besides the fact it's required by law because it's the blueprint for where we go forward fiscally, and you have to abide by the law. what congress is doing between the ryan budget and murray budget, we're going nowhere fast, and essentially, the question is is president obama going to put forth a budget, stick his neck out, modernize entitlements? guess what, if n
's plan calls for us getting out of the deficits in ten years. senator paul said, i can do it in five. what do you think of that? >> i think he could and he has put forward plans in the past that show he can. and like i said, going back to the communication factor. he knows how out of control the government is, whether it's sending money to people who are burning our flag or giving money to college students to come up with a menu how we'll eat on mars, and he has an ability to communicate with young people and voters as a whole what is important and what isn't. and we have seen him become a hybrid. he is a republican but has a libertarian base and ising which that republicans have been striving for but hasn't found the right candidate and right now rand paul looks like he is on his way. >> neil: obviously ruffled john mccain's feathers, and john mccain kind of apologized for how far this went. react to this. >> in an interview i said that senator paul and senator cruz were whack obirds. that was anyone appropriate and i apologize to them for saying that because i respect them both a
taxes. i thought the increased taxes would maybe go to taking care of some of the deficit. no. it's simply going to continually expanding the size and scope of dot government, and those taxes are on families, just like obamacare is placing taxes on family. you do not hear the republican leadership saying we're the defenders of the american family, of businesses. we want to unleash this economy so that it will absolutely grow. by the way, about that easter egg hunt. why, if they're going to haste do they even put it on the tickets they were threatening to stall the whole thing? that would be the first time in the history of the easter egg roll that it would have been cancelled for politics. the only other time it's been cancelled, it's for war. it's a stunning thing but all too justify this administration's temper tantrum over wanting to have a complete free rein to spend as much as they want. >> neil: eggs actually. they don't know. i'm done. i'm done. thank you very much. this will be our lead issue tonight. why this guy who did this dance is really wigging out right now. david w
dollar deficits, no growth, which is true, and we keep having these states with higher taxes and destroying output, it could happen here. it terrifies me. >> what would trigger it would be sharply higher interest rates when people -- in order to buy our debt. not talking about just a few points here but dramatically higher interest rates where it's impossible for us to pay our entire debt load. then becomes a point where we reach financial collapse. >> neil: when people don't trust their financial institution. but when it's your bank bank, your passbook savings account, that is called into question, that galvanizes. then what? >> here's the thing, neil. that almost happened in the past and i think hank paulsen and bernanke and the leadership -- recappallizing the banks was the way to go. in these countries, the banking system is the government. they're so intertwined. we're not there but we're getting there. and remember, once the government -- once they're questions about the sovereign -- sanctity of the dollar, everything falls because our banking system is aligned with our
's deficits were unpatriotic and a fraction of what these are. and 2009 cut the deficit in half he the end of the first term and that was essentially ignored in 2012 when he ran for reelection and failed to do that and mentioned one time in the newscast in one year. and 2012 told msnbc taking care of the deficit being the first order of business, this week, or last week, he said no and you're not going to get a balanced budget for the the sake of balance and sustainable for the next ten years. i think he's clearly moving the goal post, a watch dog press would be all over this, but seem to be ignoring this. you should see the e-mails, our viewers are all over it. rich, thank you. tax the rich not playing well overseas or at home for that matter. listen to this. >> in france, the approval rating of the socialist president hollande has plummeted to a mere 31%. remember, hollande came to office proposing a huge tax on the rich. here, bill maher of all people are turning against high taxes. yes, bill maher. complaining about how high his taxes are, would you know it. the man who gave a million
that is about. i do know $16.7 trillion debt, growing at the rate of the deficit every year, is a big problem. >> so they see, they say -- i want to stress it is a big problem, but not an immediate crisis, di does that take the urgency off of addressing it? >> no, it does not, what business, what investment and capital is looking for is they are looking for tre deccability -- predictabilitiy and stannability, which they see the movement going on in the debt itself, that offers neither. >> when you and the governors met with the president, a weeks ago, and you talk, i think you were knee deep in the whole sequestration debate. and president's warning that disaster is coming. >> that was the story. neil: and i thought to myself, governor, i mean, holy cow. however onurus the cuts would be, they are in a 3.6 -- budget, if whining about these cuts what are we doing when we have to put pedal to metal. >> i don't know, i can tell you that the governors said for the most part, we can handle this we've been balancing our budgets since '08 when the downturn came. neil: did any of you say, quit scaring
for the time. but i'm not seeing anything taming the grove of spending in the interim. so, deficits get worse, debt gets bigger problems get more inser mount able to me. >> right. soon we'll all look at detroit or greece or cyprus or mexico city. >> do you think that is where we are headed? >> pretty much, it happened during the great depression, it of created not by our economy but the government, we have the great recession right now, if we don't get out of the great recession it is a great depression. neil: all right on that happy note. how it was like, outside of that mrs. lincoln, how of the show. do you think that union unions are down and out? get ready, they are fighting back, and they have a lot of cash, wait until you hear where they are getting it. and wait until you find out what they have named in their corner. >> clash of the corporate tita titans. aig ceo robert whether he will lawyer up against the very folks to bailed his company out. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from nation
the country continue to struggle with failing students facing record deficits. new jersey governor chris christie called school supers arrogant and greedy, but when new jersey tried to cap super pay, the school school superintendents sided the cap by double dipping, retiring early to pocket the pensions, and then they got rehired elsewhere as school administrators or consultants. in new jersey, one retired 18 years ago, but got rehired 23 times since as a school administrator elsewhere pocketing $1.2 million, and double dips is rampant in ohio too. back to you. gerri: great story. thanks, liz. on to farmers. they are getting paydays for the land. it's part of what some call another golden age for farming. with more on this, host of u.s. farm report. john, thanks for being with us. great to have you on the show, now, this story surprised me because i thought the drought killed you all, and hear that farmland is on fire, and, in fact, some investment banks out there try to snap up as african as they can, i was surprised by that. what's going on? >> well, it's not quite as drastic as it app
of cutting something else we have a trillion dollar deficit. neil: you know, every time the president or something else goes on a foreign trip, i immediately hang to my wallet. they open the wallet left and right to the foreign governments, i'm thinking, that is not good. >> last week, we signed a contract state department, giving usaid 25 million to crime frightennishtivefight inivetives in el salvador. foreign trade is a much better way to get there. but this shows that spending that steve is talking about happens every day, no one cares, very few people write about itic semp cranks like us, and maybe you should step back, take a breath and cut something. neil: the foreign aid budget, is you know, if you count it about 20 billion a year. that is a lot of money to be giving away from american taxpayers to give to foreign country, and show me any example where foreign aid has worked to make a country richer. i said, it gives money from poor people, and rich people, and gives to to rich people in poor countries that is what foreign aid is. neil: thank you very much. >> thank you. neil:
. cyprus needed a total bail out of 17 billion euros and they needed to to fund their banks and deficit. they said we will only give you ten and you have to come up with the other seven. it led to runs on atms in cyprus and protests as the president arrived at parliament. here's what they decided to do. they're going to tax bank depos sxits the ox original plan on saturday, 10% if you have an account larger than 100,000 euros and here's what led to the protests, 6.75% if you're under 100,000 euros and that's fdic deposit insurance. market watchers were aghast that insured depositors would be hit, but the insurance was essentially a falsehood. what if citizens in italy or spain begin to think that they being lose their money even if it is supposedly insured? could that lead to bank runs? it is so controversial the cyprus parliament couldn't get it passed yesterday. they say they would do it today. it didn't happen and now they're trying for tomorrow. they are re-working the plan so the smaller guy is not hit so hard, but still, it appears they're going after insured deposits. why did the
a surplus of politics and deficit of intelligence when it comes to this. germans and fins and a number of others feel they have to tell very uninformed electorate that they are being tough. we have to extract some blood. they don't understand that this is a two pointed sword. by trying to extract blood from greeks sand cypriots they are inflicting enormous pain. $500 billion worth of capitalization around the world wiped out. >> as moronic as this plan was, we've heard there are not a lot of options. >> there are options. >> first of all, they should be putting in place the equivalent of the fdic. when we close a failed bank in the united states, we go in on a friday with fdic and occ. it's all hush hush. you close the bank. you move the depositors money into a good bank and you don't lose faith in the banking system. >> don't they need 27 countries to put that in their charter? >> this is what europe was moving toward. this is what was recognized this past summer and this is why -- >> we knew it would take time. >> this throws that out the window and the thing is that they're not sayi
to approximately 5 billion euros. because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. but the europeans have made a categoric statements. cypress has to come up with 5.8 billion euros. it can't be throu
deficit. we're spending a trillion more than we take in every year. everything has to be on the table. one thing i would suggest is that there are tipping points to everything. in the middle class segment people between $100,000 to $250,000 in home purchase price, mortgage interest makes sense to the middle class borrowers. and the question is do they count that when they look to buy a home versus rent. people stopping buying altogether. if it has an impact, how does that impact construction? has to be on the table. it has to be something we take in context with the broader picture. >> help us get rid of freddie and fannie some day too. put something together for me, will you? >> keep in mind, while we sit around and vilify freddie and fannie. >> see you love them. that's a shock. >> i don't. i think we ought to go away from them. but we need liquidity to ensure there's capital. >> can't do it now. especially now. all right. great hair. good looking man. and you watch, unlike some other people that work here. anyway, thanks, dave. >> you may not watch for a few minutes when you walk to get
if rates were liar. they had the time because rates were so much lower and deficit was going up slower. in a real sense the fed buying the treasuries has made it less painful for the government. >> i'm not sure if the population that chairs the euro or those that chair somewhat with central planning with regard to the 27 countries, but my question to you is i'm not sure we're going to lose any of these countries, but on the other hand, keeping their funding and the central bankers and the banks and insolvency all in line is a full -time job. is anybody worried about how we're growing these economies? is that the rally big elephant in the room? >> the growth hasn't phone zone up. we talked about it many times. what is the eventual exit strategy? our fed can't decide when to stop buying treasuries much less strengthen the balance sheet. >> i talked to jim bianco about the taper. this is another arena where the fed is going to paint themselves into a corner, they're going to move them up and down with every data point? in the end, they just have to say enough is enough, don't they? >> goi
Search Results 0 to 21 of about 22 (some duplicates have been removed)